Could XRP Reach $3? ETF Developments Fuel Optimism

XRP has struggled to gain bullish momentum lately, but that could soon change. The token is currently trading within a narrowing wedge pattern that has been forming for over eight weeks — a classic signal that a breakout is nearing.

While XRP’s RSI remains just below 50, indicating indecision, recent ETF developments are reviving market sentiment. Notably, several Canadian asset managers have launched spot XRP ETFs in rapid succession, signaling growing institutional interest.

Canada’s Ripple ETF Wave

Purpose Investments, known for launching North America’s first spot Bitcoin ETF, debuted the XRPP XRP ETF on the Toronto Stock Exchange. Soon after, 3iQ launched its own spot XRP ETF (XRPQ), backed by Ripple itself and offering zero management fees for six months. Evolve Funds Group followed with XRPU, making it three XRP ETFs launched in one week.

Though the announcements didn’t immediately trigger a price rally — XRP remained near $2.22 — they may set the stage for renewed demand. The spot market saw modest inflows (~$5.4M), but the derivatives market painted a different picture: XRP options volume surged 144%, hinting that traders expect a move.

Why It Matters

The simultaneous launch of three XRP ETFs is a clear vote of confidence from Canadian institutions. If liquidity starts flowing into these ETFs, and if U.S. markets follow suit, it could help propel XRP closer to the $3 mark — a level not seen since its all-time highs.

Bottom Line

The price of XRP hasn’t exploded — yet. But with institutional-grade products now available, demand could accelerate over time. Traders should keep an eye on volume trends and watch for a breakout from the wedge formation.